Meltem Demirors, chief strategy officer of CoinShares, predicts that the price of Bitcoin will rise in the coming months.
Demirors, who is closely followed by the crypto money market, shared his predictions on CNBC’s Fast Money program. “I am your resident Bitcoin choke,” hosted by Melissa Lee. He entered the words.
In addition to his predictions, Demirors also shared his thoughts on potential developments that could push the Bitcoin price up. As it is known, Bitcoin ETF is one of the popular topics of recent days. There are no approved Bitcoin ETFs in the US, they are still under evaluation. Demirors said:
“We are currently hearing rumors about a possible Bitcoin ETF approval. While this will be a cash-settled and contract-based ETF, there is a lot of rumored trading in crypto. So for the fourth quarter, I would say that was a huge catalyst.”
This is a very unlikely possibility. Many market experts think that the U.S. Securities and Exchange Commission may soon approve a Bitcoin ETF.
In addition to these, the famous strategist also touched on a different development that he thinks may affect the Bitcoin price. Demirors thinks there are many platforms/options for Bitcoin investment:
“Most importantly, there is too much cash on the sidelines and many investors are currently seriously considering adding Bitcoin to their portfolios. Whether through a public investment vehicle or platforms like Coinbase, Robinhood or Square, there are many different ways to do this now. There is quite a plethora of options for individual and institutional investors’ exposure to Bitcoin.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.